Changshu to pay civil servants in digital yuan

Civil servants in Changshu’s urban county (Jiangsu province) will begin to receive their wages entirely in the digital yuan (e-CNY) from May. местное СМИ.

Earlier authorities in the jurisdiction had already implemented travel-subsidy payments to staff via the digital wallet. Workers at public institutions also gained the ability, on request, to arrange salary payments to it.

As the outlet found, a number of local stores, including the largest shopping mall, accept e-CNY.

Staff at the local hospital confirmed to journalists that they had been informed that from May all payments would be made in e-CNY. They also noted that the facility already processes payments for services via the digital wallet.

The People’s Bank of China announced an expansion of the national digital currency testing program in Jiangsu in September 2022. In the first quarter of 2023, provincial authorities unveiled a comprehensive plan to roll out e-CNY over two years.

Earlier, former chief researcher at the central bank, Qinghua Se Ping assessed the interest in the national digital currency as low. According to the analyst, authorities need to broaden the use cases for the asset.

In January, the e-CNY was used for the first time in stock-market settlements.

As reported, municipal authorities in China spent a total of 180 million yuan (~$26.5 million) in subsidies and coupons to promote the digital currency during the Chinese New Year.